Energy Ministers from Greece, Israel and Cyprus promised Wednesday to increase cooperation to exploit natural gas deposits in the Mediterranean, but warned that large-scale exports could take a decade, Trend reported.
Greece, whose economy has been ravaged by a financial crisis, hopes to eventually start its own gas production and act as a transit point for supplies from Israel and Cyprus. It has no plans, however, to abandon more advanced gas projects it is involved with in Azerbaijan and Russia.
At a meeting near Athens, Cypriot Industry Minister Neoklis Sylikiotis said the three countries were more likely to share gas-produced electricity, using undersea cables, before exports were possible.
"With the most modest calculations, a period of eight years or more is required (for exports)," Sylikiotis told an energy conference at this seaside resort.
"Undersea (gas) pipelines is a more difficult process, but of course laying undersea electricity cables is easier," he added
